The global specialty paper market to grow at a CAGR of 4.37% during the period 2017-2021.

Global Specialty Paper Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report covers the present scenario and the growth prospects of the global specialty paper market for 2017-2021. To calculate the market size, the report considers the volume of specialty paper produced by the vendors for application in various sectors. The report also includes a discussion of the key vendors operating in this market.

Developed countries are shifting toward plastic packaging as it is more sustainable compared with paper. As the developed countries are technologically advanced, they can invest in innovative recycling methods for plastics. This poses a challenge for paper packaging and products as recycled paper does not provide high-quality properties required by specialty paper.

According to the report, the packaging of tea bags accounted for 4% of the global market share of tea packaging, and the remaining 96% was accounted for packet tea in 2015. Despite low market share, packaging of tea bags is growing at a CAGR of 10.5%. The growth of tea bags, made of paper, is growing at a rapid rate as they are biodegradable.

Further, the report states that rapid advances in electronic data transmission and storage and online filing systems implemented by various sectors have adverse effects on the number of paper applications. Digitization of information has replaced traditional paper applications such as print publishing, storage of vital information such as medical records, traffic citations, and financial statements. The shift in storing information through digital formats has resulted in the decline of paper demand.

For instance, most medical facilities and healthcare centers that recorded medical information in specialty papers have switched to recording medical statements in digital formats.